CIGNA Retirement & Investment Services is introducing two new Internet-based investment education and advice tools for existing clients using its pension outsourcing program.
The CIGNA Retirement Advisor takes participants through a comprehensive educational program that covers all sources of retirement income, including Social Security and pension programs. It tells them how much to invest in each asset class based on their goals and risk tolerance and provides a list of plan options that fit each asset class. It does not, however, give participants advice about exactly which option to choose.
The second module, the CIGNA Total Retirement Advisor, repeats the content of the first and adds a layer of investment advice about specific investment options.
The programs retirement planning software is provided by Wiesenberger. The simulation-based forecasting software used to determine asset allocation and plan options is from Ibbotson Associates.